Amazon turned 25 years old this week. In its quarter century of existence, it has created roughly a trillion dollars in shareholder value.
Amazon dominates e-commerce, has the biggest cloud-computing infrastructure offering and leads the market for home assistants with its Alexa technology. Additionally, it has a burgeoning online ad business and is becoming a force in Hollywood through its video streaming division. Total sales jumped 31% last year to $232.9 billion.
Tom Forte of D.A. Davidson, one of the most bullish Wall Street analysts on Amazon, said in a report on Friday that the company has developed a number of strategies for others to learn from and even copy. Here’s what he laid out, along with some concrete examples.
Focus on customers, not competitors: CEO Jeff Bezos has been customer-obsessed since starting the company in 1994 as an online bookseller. According to Forte, that has been Amazon’s most important enduring quality — focusing on customers, not competition.